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Coping with my Schadenfreude


               
2006 Apr 12, 10:14am   17,307 views  268 comments

by HARM   follow (0)  

Mr. Housing Bubble

WSJ article reports Flippers are getting a rough ass-pounding from the market.

Despite the current turmoil, some Floridians remain bullish, including Stuart Miller, the chief executive officer of Miami-based Lennar, one of the largest home builders in the U.S. But Mr. Morgan, the broker, says for him the market has slowed considerably. He wrote in an email late last week that "we went three days this week with not a single showing. That's incredible. I have 35 listings. We usually get 2-6 showings a day....I received more desperate calls from sellers than ever. One lady broke down into tears. Her husband bought two investment properties, and they are now going to lose their 'life savings' if they sell the homes in today's market."

I experience strong visceral feelings of pleasure and satisfaction.
(_pinky to corner of mouth, Dr. Evil style_ Woohahahahaha!!!)

Q: Does this make me a bad person?

Discuss, enjoy...
HARM

#housing

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1   astrid   @   2006 Apr 12, 10:32am  

SFWoman,

You? Torschlusspanik? Never! :P

3   OO   @   2006 Apr 12, 10:53am  

want some real scadenfreude joy?

Go check out foreclosure.com. I have found a big shot mortgage banker in 95030 getting into 2 pre-foreclosures in 2005 and 2006, he was talking about buying San Jose soccer team right before his first pre-foreclosure; 2 flippers losing 2 and 3 homes to pre-foreclosure respectively in 95070; a flipper losing 2 homes to pre-foreclosure in 95032. All these pre-foreclosures happen within the last 6 months, and of course a lot more to come.

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